Key Points:

• Gold is trying to settle above the $2040 level.
• Silver rebounded towards $23.00 after an unsuccessful attempt to settle below $22.50.
• Platinum gained some ground amid rising demand for precious metals.

In this article:

• Gold +0.52%
• Silver +0.86%
• Platinum -0.11%

Gold

Gold gains ground as traders focus on the pullback in Treasury yields. Falling Treasury yields serve as a bullish catalyst for precious metals that pay no interest.

In case gold manages to stay above the $2025 level, it will move towards the nearest resistance at $2065 – $2075.

Silver

Silver rebounded towards the $23.00 level as gold/silver ratio pulled back below the 89 level after an unsuccessful attempt to settle above 89.50.

A move above the $23.00 level will push silver towards the resistance at $23.40 – $23.60.

Platinum

Platinum settled back above the $900 level amid a broad rally in precious metals markets.

From the technical point of view, platinum is moving towards the resistance at $925 – $935.

For a look at all of today’s economic events, check out our economic calendar.

Source: FX Empire